| February 15, 2005
TURBOSONIC TECHNOLOGIES, INC. (OTC
Bulletin Board - TSTA), a leading provider of air pollution control
technology, today announced the following unaudited operating results for the second
quarter first six months of its
fiscal year ending June 30, 2005:
| |
Three Months Ended |
Six Months Ended |
| |
12/31/04 |
12/31/03 |
12/31/04 |
12/31/03 |
| |
_______US Dollars_______ |
_______US Dollars_______ |
| Total Revenues |
$ 1,226,956
|
$ 729,899
|
$ 3,673,991
|
$ 1,876,519
|
| Net Income (Loss) |
$ (473,421)
|
$ (426,728)
|
$ (346,165)
|
$ (616,224)
|
Net Income (Loss)
Per Share |
$ (0.05)
|
$ (0.04)
|
$ (0.03)
|
$ (0.06)
|
| Weighted Average Number of Shares Outstanding |
10,507,224 |
10,507,250 |
10,507,224 |
10,507,250 |
Commenting on the Company's results, Edward Spink,
TurboSonic's Chairman and CEO, said, "Following two
successive profitable quarters, we are dissatisfied with
the second quarter results for our current fiscal year.
Significant foreign exchange losses and provision for rework
on an OEM project negatively impacted our results. If our
revenue for the first six months of fiscal 2005 is combined with
our current backlog, substantially all of which we expect to complete prior
to the end of fiscal 2005, including $1.5 million in new orders booked in the
past six weeks, it is likely that our revenue for fiscal 2005 will be
approximately double that of our prior fiscal year. We are pleased with the
strides we are making in our target markets, including China and South America.
Significant repeat orders are demonstrating the emphasis that TurboSonic places
on customer satisfaction and value."
TurboSonic Technologies designs and markets air pollution control
technologies to industrial customers worldwide.
Its
products are designed to meet
and exceed the strictest emissions regulations, improve performance, reduce
operating costs and recover valuable by-products.
Certain statements in this press release are
"forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act
of 1995 and involve known and unknown risks,
uncertainties and other factors that may cause
the Company’s actual results, performance or
achievements to be materially different from the
results, performance or achievements expressed or
implied by the forward-looking statement.
Factors that impact such forward-looking statements
include, among others, changes in general economic
conditions, interest rates, government regulations,
and competition. For a discussion of such risks
and uncertainties, which could cause actual results
to differ from those contained in the
forward-looking statement, see the annual report
on Form 10-KSB and other documents the Company
files from time to time with the Securities and
Exchange Commission.
For further information, contact:
Patrick Forde, President
TurboSonic Technologies, Inc.
550 Parkside Drive, Suite A-14, Waterloo, Ontario, Canada N2L 5V4
Phone: (519) 885-5513, Fax: (519) 885-6992
Email:info@turbosonic.com
|
